Connor Clark & Lunn Investment Management Ltd. Boosts Position in Philip Morris International Inc. $PM

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 438,074 shares of the company’s stock after buying an additional 30,486 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Philip Morris International were worth $79,786,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PM. Legacy Investment Solutions LLC purchased a new stake in Philip Morris International during the 2nd quarter worth $25,000. Abound Wealth Management lifted its stake in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International during the first quarter worth about $30,000. Briaud Financial Planning Inc boosted its position in shares of Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares during the period. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after buying an additional 162 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $153.26 on Friday. The firm has a market cap of $238.58 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 2.22 and a beta of 0.43. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The firm’s 50-day simple moving average is $158.30 and its 200-day simple moving average is $168.37.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion for the quarter. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.8%. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

PM has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. KGI Securities initiated coverage on Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating on the stock. Finally, Morgan Stanley set a $175.00 price target on Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.